Nokia (NOK) May Have Landed Huge Deal in Effort to Regain Smartphone Relevance (CHL) (AAPL)

December 4, 2012 12:24 PM EST
Nokia (NYSE: NOK) shares are higher on the session amid earlier reports that it might have struck a deal with the world's largest wireless carrier.

Bloomberg reports this afternoon that China Mobile (NYSE: CHL) and Nokia entered an agreement over the Lumia 920. Though nothing official was affirmed by either side, Nokia may make an announcement as soon as today.

The Lumia 920 will be modified to run on China Mobile's TD-SCMA network. Investors have hoped that Apple (Nasdaq: AAPL) would have inked a deal with China Mobile by now, but there hasn't been any chatter over an iPhone model which will run on the specific network.

At the end of October, China Mobile was said to have 703 million subs, with 79.3 million as 3G clients.

Just a few weeks ago, it was mulled that the Lumia 920 would land on China Mobile's 3G and upcoming 4G network. Shortly after, news broke that Nokia Siemens was selected to build out China Mobile's wireless infrastructure.

Nokia is up 1.5 percent, while Apple is down about 1.7 percent Tuesday.

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